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Valuing improved hurricane forecasts

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  • Lazo, Jeffrey K.
  • Waldman, Donald M.

Abstract

The value to households of improved hurricane forecasts is estimated from a pilot survey using discrete choice econometric methods. Each household is willing to pay approximately $13 for improvements in forecast attributes such as landfall time and position, wind speed, and storm surge.

Suggested Citation

  • Lazo, Jeffrey K. & Waldman, Donald M., 2011. "Valuing improved hurricane forecasts," Economics Letters, Elsevier, vol. 111(1), pages 43-46, April.
    • Handle: RePEc:eee:ecolet:v:111:y:2011:i:1:p:43-46
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    References listed on IDEAS

    as
    1. Scott J. Savage & Donald M. Waldman, 2008. "Learning and fatigue during choice experiments: a comparison of online and mail survey modes," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 23(3), pages 351-371.
    2. Waldman, Donald M., 1985. "Computation in duration models with heterogeneity," Journal of Econometrics, Elsevier, vol. 28(1), pages 127-134, April.
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    Cited by:

    1. Alexandra Brausmann & Moritz Flubacher & Filippo Lechthaler, 2019. "Valuing meteorological services in resource-constrained settings: Application to smallholder farmers in the Peruvian Altiplano," CER-ETH Economics working paper series 19/324, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    2. Lechthaler, Filippo & Vinogradova, Alexandra, 2017. "The climate challenge for agriculture and the value of climate services: Application to coffee-farming in Peru," European Economic Review, Elsevier, vol. 94(C), pages 45-70.
    3. Edward Helderop & Tony H. Grubesic, 2022. "Hurricane storm surge: toward a normalized damage index for coastal regions," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 110(2), pages 1179-1197, January.
    4. Nguyen, Thanh Cong & Le, Hoa Thu & Nguyen, Hang Dieu & Ngo, Mai Thanh & Nguyen, Hong Quang, 2021. "Examining ordering effects and strategic behaviour in a discrete choice experiment," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 394-413.
    5. Jeffrey K. Lazo & Ann Bostrom & Rebecca E. Morss & Julie L. Demuth & Heather Lazrus, 2015. "Factors Affecting Hurricane Evacuation Intentions," Risk Analysis, John Wiley & Sons, vol. 35(10), pages 1837-1857, October.
    6. Renato Molina & Ivan Rudik, 2022. "The Social Value of Predicting Hurricanes," CESifo Working Paper Series 10049, CESifo.
    7. So-Yeon Park & Seul-Ye Lim & Seung-Hoon Yoo, 2016. "The Economic Value of the National Meteorological Service in the Korean Household Sector: A Contingent Valuation Study," Sustainability, MDPI, vol. 8(9), pages 1-13, August.

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